Social media giant Facebook is planning to officially have a new identity thanks to a new rebrand next week. As reported by The Verge, this was revealed by a source with direct knowledge about the matter.
This rebrand could be unveiled sooner than anyone expected with reports about CEO Mark Zuckerberg set to address on October 28. This will be during the company’s annual Connect conference. The name change is meant to make it clear about the firm’s plan to turn the table and be known more for social media and all the problems that it comes with. However, the social network will still be under a parent company that oversees other firms like Instagram, WhatsApp, Oculus and more.
This rebrand could also be seen as an effort to distance itself from the intense scrutiny it is currently under. This is especially after recent reports about the firm preferring to condone hate speech all for the sake of more engagement. This was claimed by former Facebook employee turned whistleblower Frances Haugen about two weeks ago.
It is also quite clear that this has been coming for a long time based on Facebook’s focus on the next generation of technology. A big example would be the company’s huge investment in augmented and virtual reality (AR and VR).
The new name is a heavily guarded secret that no one other than the company’s senior leadership knows. One word that has been making rounds is Horizon, the name of a VR product that is yet to be released. All we have to do is wait and see what Zuckerberg reveals this coming week.